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MITSUBISHI ELECTRIC TO ESTABLISH NEW BUSINESS
GROUP TO ACCELERATE ITS INTERNET BUSINESSES
TOKYO, February 16, 2000 -- Mitsubishi
Electric Corporation (President: Ichiro Taniguchi) will establish
on Feb. 16, 2000 the Information Network Service Group (INSG)
which, along with devising and drafting plans on Internet-related
businesses to be operated by the Mitsubishi Electric group, will
expedite preparations for launching such businesses.
- Objectives of Establishing Information Network Service
Group
In line with the policy to expand its information-technology
(IT) businesses as outlined in the company's mid-term business
plan, Mitsubishi Electric is speeding up its move to launch IT-related
businesses. Amid this situation, the company will create a new
department under direct control of the president and independent
of the existing organization that will plan and control Internet-related
businesses. These businesses comprise the Internet-based information
and telecommunications business that has high growth potential
and the information-system service business, which will make use
of the know-how accumulated within the company and its affiliates.
In addition, the INSG will
- Formulate plans in collaboration with other firms at home
or abroad engaged in Internet-related businesses, reinforce
the company's Internet-related businesses by establishing,
integrating, reorganizing affiliates, and using resources
for such businesses.
- Accumulate know-how on Internet-related businesses, and
serve as the main body to promote the Mitsubishi Electric
group's policy on IT businesses based on the Internet.
With the establishment of the INSG, the Mitsubishi Electric group
will accelerate expansion of its Internet-related businesses,
aiming to post more than 500 billion yen in the group's annual
sales in Internet-related businesses in the Japanese fiscal year
2003. Furthermore, the company plans to invest the necessary amount
of 100 billion yen by the Japanese fiscal year 2003.
Outline of INSG's Structure
- The INSG is a business group under direct control of the
president.
- The INSG is comprised of two divisions: the Strategic Planning
for Network Service Business Division and the Strategic Planning
for Application Service Provider Business Division.
- In the initial stage, INSG will be staffed by 18 people
and Director Koichi Kobayashi will be the General Manager
in addition to his other posts. The staff members will be
selected from officials in the Information Systems Group,
the Communication Systems Group, the Corporate Total Productivity
Management & Environmental Programs Group, the Associated
Companies Operations Group, and two affiliates engaged in
Internet-related businesses, namely Mitsubishi Electric Information
Network by Digital Technology (MIND), and Dream Train Internet
Inc. (DTI).
- By setting up the INSG staffed by professionals in the Internet
business and creating a group of independent firms which have
clear-cut business targets, Mitsubishi Electric will gain
agility and flexibility in business operations and expedite
expansion of the company's Internet-related businesses.
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- Mitsubishi Electric's Affiliates Engaged in Internet-related
Businesses
Mitsubishi Electric Information Network by Digital
Technology (MIND): Specializes in telecommunications networking
and information processing Dream Train Internet Inc. (DTI): Internet
service provider Pack East Inc. (PE): Type-1 common carrier Mitsubishi
Systemware Inc. (MSY): Solutions business MELCOM Service Inc. (MS):
Information system management and maintenance service business Meldac
Corporation (MELDAC): Entertainment contents provider (Others)
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About Mitsubishi Electric Corporation
With more than 75 years of experience in providing
reliable, high quality products to both corporate clients and general
consumers all over the world, Mitsubishi Electric Corporation is
a recognized world leader in the manufacture, marketing and sales
of electrical and electronic equipment used in information processing
and communications, space development and satellite communications,
consumer electronics, industrial technology, energy, transportation
and construction. With operations in 34 countries, Mitsubishi Electric
Corporation recorded consolidated group sales of over US$31 billion
in the year ended March 31, 1999. Additional information on Mitsubishi
Electric Corporation is available at www.Mitsubishielectric.com. |
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